Spalding pointers corporation expects to begin operations on january 1, year 1; it will operate as a specialty sales company that sells laser pointers over the internet. spalding expects sales in january year 1 to total $120,000 and to increase 5 percent per month in february and march. all sales are on account. spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale. required prepare a sales budget for the first quarter of year 1. determine the amount of sales revenue spalding will report on the year 1 first quarterly pro forma income statement. prepare a cash receipts schedule for the first quarter of year 1. determine the amount of accounts receivable as of march 31, year 1.

Which of the following statements is true about financial planning

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash